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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    621 Lk Ave Lake Worth, FL 33460-3810

    • Strip malls
    • 10,229 SF
    • 0.31 lot acres
    OFF-MARKET
    Last Sale
    Sep 30, 2021
    $3,000,000
    Value Estimations
    $3,250,000
    Show details
    Cap Rate Potential
    5.6%
    Strip malls
    Location Intelligence
    Property ID
    US18-4499152
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • The Irish Brigade / Pub / Restaurant

    Property Details for 621 Lk Ave

    Year built
    1947
    Construction
    WOOD
    Lot size
    0.31 lot acres
    Property size
    10,229 SF
    Zone code
    DT
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    38-43-44-21-15-021-0110
    APU
    38434421150210110

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,545,000
      ML approach
      $3,670,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,280,000
      6.5%
      $3,030,000
      7%
      $2,815,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,720,000
      Current use
      AUTO REPAIR, GARAGE
      $4,210,000
      Change: +13% Conversion: Difficult
      MEDICAL BUILDING
      $4,030,000
      Change: +8% Conversion: Difficult
      OFFICE BUILDING
      $3,300,000
      Change: -11% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lake Worth
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0552
    Latitude
    26.6156
    CBSA code
    33100
    CBSA name
    MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $61,674
    $850,500
    $1,517,905
    $2,368,405
    -
    $850,500
    $1,517,905
    $2,368,405

    Comparable in this City

    • Value Estimation
      $1,185,000
      4,982 SF

      210 Dixie Hwy Ste, Unit 1

      SHOPPING CENTER, STRIP CENTER • 4,982 SF
      210 Dixie Hwy Ste, Lake Worth, FL 33460-4159
      View Details
    • Value Estimation
      $760,000
      3,514 SF

      209 Dixie Hwy

      SHOPPING CENTER, STRIP CENTER • 3,514 SF
      209 Dixie Hwy, Lake Worth, FL 33460-3361
      View Details
    • Value Estimation
      $615,000
      2,214 SF

      11 Dixie Hwy

      SHOPPING CENTER, STRIP CENTER • 2,214 SF
      11 Dixie Hwy, Lake Worth, FL 33460-3727
      View Details
    • Value Estimation by Request
      808 SF

      911 2nd N Ave

      SHOPPING CENTER, STRIP CENTER • 808 SF
      911 2nd N Ave, Lake Worth, FL 33460-3314
      View Details
    • Value Estimation
      $810,000
      3,182 SF

      14 J St

      SHOPPING CENTER, STRIP CENTER • 3,182 SF
      14 J St, Lake Worth, FL 33460-3705
      View Details
    • Value Estimation
      $1,005,000
      4,138 SF

      508 Lk Ave

      SHOPPING CENTER, STRIP CENTER • 4,138 SF
      508 Lk Ave, Lake Worth, FL 33460-3809
      View Details

    Similar Nearby for Sale

    • $2,650,000

      Lake Worth Neighborhood Shopping Center

      Centrally located 8,322 SF shopping center on 23,492 SF lot.
      2101 N Dixie Hwy, Lake Worth, FL 33460
      View Details
    • $3,995,000
      9,778 SF

      Lake Worth Shopping Center Investment

      Prime Lake Worth retail center, high occupancy.
      409 Lake Ave, Lake Worth, FL 33460
      View Details
    • $2,400,000

      Lake Worth Beach Commercial Plaza

      Fully leased commercial plaza with development opportunities in Lake Worth.
      901 N Dixie Hwy, Lake Worth, FL 33460
      View Details
    • $1,200,000
      2,550 SF

      Downtown Lake Worth Retail Storefront

      Single-tenant retail storefront in historic downtown Lake Worth, Florida.
      805 Lucerne Ave, Lake Worth, FL 33460
      View Details
    • $3,200,000
      7,064 SF

      Lake Worth Retail Opportunity

      Retail property for sale in Lake Worth, Florida.
      604 Lake Ave, Lake Worth, FL 33460
      View Details
    • $10,000,000
      24,795 SF

      Downtown Lake Worth Retail Portfolio

      Five multi-tenant retail properties in vibrant Downtown Lake Worth Beach.
      Lk Ave & Lucerne Ave, Lake Worth, FL 33460
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,880 SF

      Retail Space in Lake Worth

      Retail spaces available in renovated Lake Worth shopping center.
      2505-2565 N Dixie Hwy, Lake Worth, FL 33460
      View Details
    • $25 SF/Yr
      1,225 SF

      New Retail Space Available

      Customizable retail space in Lake Worth with excellent exposure.
      1601 N Dixie Hwy, Lake Worth, FL 33460
      View Details
    • $4,645 /Mo

      Updated Retail Space on Dixie

      930 SF retail/office space in Lake Worth Beach, FL.
      1808/1810 N Dixie Hwy, Lake Worth, FL 33460
      View Details
    • $2,475 /Mo

      Versatile Flex Space For Lease

      940 SF flex space with grade-level door, fully air-conditioned.
      1114 N G St, Lake Worth, FL 33460
      View Details
    • $6,150 /Mo
      22,067 SF

      Lake Worth Road Stand-Alone Building

      One-story building on Lake Worth Road available for lease.
      1744 Lake Worth Rd, Lake Worth, FL 33460
      View Details
    • $30 SF/Yr
      3,971 SF

      Prime Downtown Lake Worth Retail

      High-traffic retail space in central Lake Worth Beach.
      500 Lake Ave, Lake Worth, FL 33460
      View Details
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    Lake Worth, FL 33460-3810
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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